Insights

Boral (ASX:BLD) share price falls as Seven wins takeover and outs chair

Control of Boral has been passed to Seven Group and the changes have already begun…
The post Boral (ASX:BLD) share price falls as Seven wins takeover and outs chair appeared first on The Motley Fool Australia. –

The Boral Limited (ASX: BLD) share price is falling following the end of Seven Group Holdings Ltd‘s (ASX: SVW) grab for the company and the beginning of a leadership shakeup.

Seven Group’s takeover bid finished at 7pm last night with Seven Group left holding 69.6% of Boral’s voting power. This morning, Boral announced several changes to its board.

Right now, the Boral share price is $7.29. That’s 0.68% lower than its previous close and 8 cents less than Seven Group was paying for Boral shares only yesterday.

At the same time, the Seven Group share price is up 0.13% with its shares trading for $23.34 apiece.

Let’s take a closer look at the finale of Seven Group’s takeover of Boral.

Seven Group wins takeover battle

The Boral share price is falling after changes rumoured to be facing Boral’s board following Seven Group’s takeover turned out to be true.

As was previously assumed, Seven Group’s CEO and managing director Ryan Stokes has taken over as chair of Boral’s board as of this morning.

Additionally, Seven Group’s chief financial officer Richard Richards has, indeed, been appointed to Boral’s board.

Now-former chair Kathryn Fagg has stepped down effective immediately.

Using his new title publicly for the first time, Stokes commented on Fagg’s time with Boral. He said:

On behalf of my fellow directors and shareholders I would like to thank Kathryn for her contribution to Boral… Kathryn leaves Boral in a strong position, with an actionable transformation strategy and a well-progressed program of strategic divestments for its US businesses including continuing to assess options for the Fly Ash business. The board is very grateful for her service.

Board members Peter Alexander and Deborah O’Toole will follow Fagg out the door after Boral’s annual general meeting in October.

Seven Group has reiterated its commitment to retaining a majority of independent directors on Boral’s board.

An Independent Director’s Committee has also been put in place at Boral. The company plans to instate a lead independent director to act as chair of the committee in the future.  

Boral share price snapshot

Despite the recent drama, the Boral share price is having a good year on the ASX.

Right now, it has gained 47% since the start of 2021. It is also 95% higher than it was this time last year.

The company has a market capitalisation of around $8 billion, with approximately 1.1 billion shares outstanding.

The post Boral (ASX:BLD) share price falls as Seven wins takeover and outs chair appeared first on The Motley Fool Australia.

Should you invest $1,000 in Boral right now?

Before you consider Boral, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Boral wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Boral (ASX:BLD) share price struggles as Seven waits to take over
Boral (ASX:BLD) share price edges lower on divestment news
These ASX 200 CEOs have the most wealth tied up in their companies

Why the Boral (ASX:BLD) share price has gained 45% in 6 months
Here are 3 top trading ASX 200 shares this Wednesday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!